RICHTECH ROBOTICS INC. (RR): debt financing — Richtech Robotics issues $1M convertible promissory note to YA II PN at 4% OID

RICHTECH ROBOTICS INC.

Net proceeds $960K after 4% original issue discount; maturity Feb 15, 2025.
Annual interest rate 8%; monthly payments of 1/9 principal plus interest due starting May 15, 2024.
Conversion price initially $6.00/share; resets May 28, 2024 to 5-day VWAP with $1.50 floor.
Company may redeem early with 10% cash premium; holder has 10 trading days to convert after notice.

item 1.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

RICHTECH ROBOTICS INC. incurred loan of $1,000,000 with YA II PN, Ltd. at 8% per annum maturing February 15, 2025.

Instrument: loan
Principal: $1,000,000
Counterparty: YA II PN, Ltd.
Rate: 8% per annum
Maturity: February 15, 2025
Event: incurrence

Exact text from the filing

On March 18, 2024, Richtech Robotics Inc., a Nevada corporation (the “ Company ”) issued a promissory note in the principal amount of $1,000,000 (the “ Note ”) to YA II PN, Ltd.

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Source: SEC EDGAR

accession 0001213900-24-025202

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